FuelCell Energy Announces $24.2 Million Registered Direct Offering
6.7 Million Shares to be Issued At $3.59 Per Share
DANBURY, Conn.– FuelCell Energy, Inc. announced today that it entered into definitive agreements to sell 6.7 million shares of its common stock at $3.59 per share in a registered direct offering. The transaction is expected to close on June 19, 2009, subject to customary closing conditions.
FuelCell Energy intends to use the net proceeds from this offering for product development, project financing, expansion of manufacturing capacity, and general corporate purposes. Canaccord Adams Inc. and Lazard Capital Markets LLC acted as placement agents for the offering.
A shelf registration statement relating to these securities previously was filed and declared effective by the Securities and Exchange Commission. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful. A copy of the base prospectus and prospectus supplement (once filed) can be obtained at the Securities and Exchange Commission’s website http://www.sec.gov or via written request to FuelCell Energy at 3 Great Pasture Road, Danbury, CT 06813, Attention Investor Relations.
About FuelCell Energy, Inc.
FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy’s ultra-clean and high efficiency DFC(r) fuel cells are generating power at over 50 locations worldwide. The company’s power plants have generated over 315 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power companies around the world. The company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at www.fuelcellenergy.com
